Royalty Pharma PLC (NASDAQ:RPRX) Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its stake in Royalty Pharma PLC by 55.6% during Q1, now holding 103,862 shares valued at approximately $3.23 million.
• Royalty Pharma reported $1.06 EPS for Q1, beating the estimate of $0.99, with revenues of $839 million surpassing expectations.
• The company recently declared a quarterly dividend of $0.22, with an annualized yield of 2.40%, set to be paid on September 10th.

Envestnet Asset Management Inc. grew its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,862 shares of the biopharmaceutical company's stock after purchasing an additional 37,102 shares during the period. Envestnet Asset Management Inc.'s holdings in Royalty Pharma were worth $3,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. boosted its position in shares of Royalty Pharma by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 11,377 shares of the biopharmaceutical company's stock valued at $354,000 after buying an additional 2,048 shares during the period. Keybank National Association OH boosted its stake in shares of Royalty Pharma by 16.6% during the 1st quarter. Keybank National Association OH now owns 32,818 shares of the biopharmaceutical company's stock worth $1,022,000 after acquiring an additional 4,666 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Royalty Pharma by 48.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,798 shares of the biopharmaceutical company's stock worth $1,301,000 after acquiring an additional 13,615 shares in the last quarter. Amalgamated Bank raised its position in shares of Royalty Pharma by 4.4% during the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after purchasing an additional 866 shares during the last quarter. Finally, Augustine Asset Management Inc. acquired a new position in shares of Royalty Pharma during the 1st quarter worth about $200,000. Hedge funds and other institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RPRX shares. Citigroup raised their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Morgan Stanley lifted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $49.00.

Royalty Pharma Trading Up 0.3%

RPRX traded up $0.10 during trading on Thursday, hitting $37.22. 423,655 shares of the company's stock were exchanged, compared to its average volume of 4,444,550. The firm has a market cap of $20.93 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.48 and a beta of 0.50. The stock has a 50 day moving average price of $35.03 and a 200 day moving average price of $33.23. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $37.56.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. As a group, analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.36%. Royalty Pharma's payout ratio is 47.57%.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.